BWC Member Marcello Estevão addresses how fundamental shifts in technology, national security, and China’s trade relationships are actively rewiring the global economy. He notes that national security priorities now drive economic policy as China shifts toward selective commercial networks amid overseas competitive pressures. Furthermore, Estevão asserts that artificial intelligence is already serving as a major macroeconomic shock through massive investment, energy demand, and higher interest rates well before its long-term productivity payoffs arrive.

To read more from the Institute of International Finance, click here.

All views expressed by members are their own and do not necessarily reflect the views of the Bretton Woods Committee.